The Net-Zero Banking Alliance (NZBA) presents case studies that showcase how member banks are supporting client efforts to decarbonise the real economy. These studies provide insights into financial approaches, tools, and transactions supporting the transition to net zero, without endorsing all actions of member banks.
Regions
Blended Finance
Bank of America supports restructuring of Gabon’s sovereign debt for nature-positive outcomes
In August 2023, the Government of Gabon, The Nature Conservancy and Bank of America announced the completion of the first ‘Debt-for-Nature’ transaction in mainland Africa and Africa’s first ever involving private…
Power Generation
First Abu Dhabi Bank provides financing for the world’s largest single-site solar project
In August 2023, First Abu Dhabi Bank (FAB) helped one of the world’s largest solar photovoltaic projects reach financial close. FAB participated in a USD 1.18 billion, US-dollar denominated commercial facility from a…
Transition Planning & Finance
First Abu Dhabi Bank: Transition Finance
“First Abu Dhabi Bank (“FAB”)’s approach to Transition Financing is aligned with our longterm net-zero commitments to position lending and investment portfolios with net-zero emissions by 2050. For projects and activities to have a ‘transition’ label applied, the net proceeds of the transaction should be used to fund or…“
Agriculture
CIMB sets world’s first ever net-zero target for palm oil
CIMB Group became the first bank globally to establish a net-zero decarbonisation target anchored on science-based pathways for palm oil in November 2023. This pioneering move addresses emissions from a productive and affordable crop that contributes significantly to…
Cement
Commonwealth Bank sole coordinator and financier on AUD 51 million loan for green cement
In September 2023, the Commonwealth Bank of Australia (CBA) acted as sole coordinator and financier for an AUD 51 million Green Loan to advance a Green Cement Transformation Project (GCTP) from Hallett…
Blended Finance, Power Generation
First Abu Dhabi Bank plays key role in financing of Central Asia’s largest renewable project
In 2022, First Abu Dhabi Bank (FAB) played a leading role in financing the 500-megawatt Zarafshan wind project, the first wind power project in Uzbekistan and the largest renewable project in Central Asia to date (as of…
Power Generation
In March 2024, Mizuho Bank, Ltd. announced a USD 5 million equity investment in Ideation3X Pte. Ltd. (i3X), a Singapore-based venture company pioneering circular economy approaches to waste management in India…
Iron & Steel
Mizuho supports early-stage technology for reducing emissions from heavy industry
In March 2023, Mizuho Bank announced a USD 5 million equity investment in MCi Carbon, an Australian clean technology company engaged in decarbonising global industries through Carbon dioxide Capture and…
Real Estate
OCBC provides its first 1.5°C sustainability-linked loan product to real estate leader
OCBC launched the OCBC 1.5°C loan product in 2023 to support corporates in their transition to net zero. It offers reduced interest rates to corporates that meet annual decarbonisation performance targets aligned with…
Client Engagement, Transition Planning & Finance
SMBC Group pioneers Transition Finance Playbook in Japan
In 2023, Sumitomo Mitsui Financial Group (SMBC Group) became the first bank in Japan to publish a Transition Finance Playbook, setting out definitions and criteria for transition finance. The Playbook, revised in May 2024, serves as a framework to identify activities contributing…
Transition Planning & Finance
“We define transition finance as financial services provided to clients aiming to support them in aligning their business and/or operations with pathways in line with the objectives of the Paris Agreement. SMBC recognizes that transition pathways to net zero should be tailored to our clients’ sector and operating…“
Power Generation
Societe Generale acted as mandated lead arranger and hedge provider for a USD 1.2 billion green loan for ReNew Power, one of India’s largest renewable energy developers. ReNew will use the proceeds from the loan…
Power Generation
Standard Chartered co-finances Indonesia’s energy transition
In 2021, Standard Chartered helped finance a 145-megawatt floating solar photovoltaic power plant on the Cirata reservoir in West Java, issuing a USD 112 million 16-year project finance facility alongside two other lenders. On completion, it will be the first floating solar…
Iron & Steel
Standard Chartered provides USD 25 million to Asian steel producer for procurement of scrap steel
In 2023, Standard Chartered provided a USD 25 million trade finance facility to a prominent Asian steel company to support scrap steel uptake in its electric arc furnace (EAF) production facilities. The steel producer has a…
Transport
Barclays delivers USD 300 million for electric trucking pioneer
In December 2022, Barclays delivered a USD 300 million securitisation transaction for Einride, committing USD 150 million of its own funds. Einride, a Swedish company that designs, develops, and deploys technologies for freight mobility will use this securitisation programme…
Capital Markets
In addition to lending, Barclays’ model considers debt and equity financing arranged in the capital markets sourced from Dealogic as in scope. This is a key element of Barclays’ approach and ensures it is properly accounting for the breadth of support it provides its corporate clients through its capital markets franchise…
Transport
BBVA supports financing of battery gigafactory developments in France and Spain
In September this year, BBVA acted as mandated lead arranger for a EUR 801 million syndicated loan facility to Envision AESC to support a planned EUR 1.1 billion battery gigafactory project in northern France…
Oil & Gas, Sector Engagement
BNP Paribas partnership on methane emissions data supports engagement with the oil and gas industry
In March 2023, BNP Paribas announced a new partnership with Kayrros, an environmental intelligence company, that is enhancing its engagement with oil and gas companies on methane emissions. Kayrros uses…
Capital Markets
The impact of capital market activities is now reflected in HSBC’s combined financed emissions targets for the oil and gas, and power and utilities sectors. Its facilitated emissions, included in its combined metrics, are weighted at 33%, in accordance with the PCAF Standard. This approach dampens volatility, apportions…
Client Engagement, Transition Planning & Finance
ING assesses corporate transition plans to inform strategic planning
In 2023, ING developed ESG.X, an online tool to collect and assess the publicly disclosed climate transition plans of its wholesale banking clients. ESG.X enables ING to refine its approach at the client level, providing insights to its front office and sustainability…
Transition Planning & Finance
Intesa Sanpaolo: Transition Finance
“The Group, as a large financial player, has a key role in orienting capital towards a sustainable economy both in the short, medium and long term by addressing, amongst others, the environmental impacts that might derive from its business. In line with the definition of the NZBA Guidance that identifies Transition Finance as…”
Transition Planning & Finance
La Banque Postale: Transition Finance
“La Banque Postale (“LBP”) is committed to support all of its customers in the ecological transition. In 2021, LBP set up a strategic plan—Horizon 2030—to make its banking/insurance business model evolve towards a just transition. A new central purpose was defined: “Because it was born with a civic vocation, La Banque Postale is…”“
Transport
Lloyds Bank supports electric vehicle adoption with GBP 550 million debt securitisation facility
In December 2023, Lloyds Bank completed a GBP 550 million debt securitisation facility with Octopus Electric Vehicles to support the expansion of the company’s EV salary sacrifice programme, which began in 2021…
Iron & Steel
Morgan Stanley leads EUR 1.5 billion equity capital raise for green steel producer
In September this year, H2 Green Steel announced that it had secured EUR 1.5 billion (USD 1.6 billion) in equity financing to finance Europe’s first green steel plant. Since launch in 2021, H2 Green Steel has raised more than…
Innovation, Real Estate
Nationwide offers innovative interest-free mortgage product to support home retrofits
In June 2023, Nationwide launched an innovative interest-free mortgage product aimed at aiding homeowners to enhance the energy efficiency of their homes. Eligible homeowners with a Nationwide…
Client Engagement, Transition Planning & Finance
Nordea develops transition assessment tool to support client engagement
In 2023, Nordea launched a Customer Climate Transition Maturity Ladder to evaluate clients’ climate transition plans and enhance targeted client engagement efforts. The objective is to better understand how clients are adapting their business models and strategies in…
Sector Engagement
Santander UK calls for tax relief and financial support to speed retrofit of homes
In April 2024, Santander UK launched Tomorrow’s Homes, a report looking at how policymakers can address the barriers preventing consumers from decarbonising their homes. It was launched in the…
Sector Engagement
Societe Generale’s sectoral engagement supports client engagement and financing
Societe Generale plays a leading role in a number of initiatives that support sectoral net-zero target setting for banks. Alongside leading industry and climate organisations and other major lenders, it participates in expert organisations such as the Poseidon Principles…
Transition Planning & Finance
“Transition Finance is not defined as concept in itself, but rather incorporated under Swedbank’s existing policies, such as Swedbank’s Position Statement on Climate Change. Point 5.2. of our position statement describes how the bank is supporting customers in their sustainability transition. Swedbank advocates that...”
Innovation, Transport
Banorte launches Green Auto Loan for hybrid and electric vehicles
In August 2022, Banorte launched a new loan product with preferential conditions for Mexican consumers looking to purchase a new or used hybrid or electric vehicle (EV). Interest rates for the new product start at around 10% lower than the starting rate for fossil fuel…
Power Generation
Deutsche Bank arranges USD 670 million for battery energy storage in Texas
As lead arranger and joint bookrunner for three project financings from December 2022 to May 2023, Deutsche Bank raised USD 670 million for a loan facility for Plus Power to construct three fully merchant, utility-scale, battery energy storage projects in Texas totalling…
Capital Markets
JPMorgan Chase: Capital Markets
To evaluate the net-zero alignment of its global financing portfolio in each of the included sectors, JPMorgan Chase computes a portfolio-weighted average of emissions performance for all its clients in the sector portfolio. Weights are determined based on its cumulative financing to each client as a share of its…
Capital Markets
Wells Fargo’s methodology endeavours to apply certain design choices universally across all sectors. For example, the decision to include both the financing it provides clients through lending activities and the financing it facilitates through debt and equity capital market activities applies to all currently covered sectors…
Sectors
Asia Pacific
CIMB sets world’s first ever net-zero target for palm oil
CIMB Group became the first bank globally to establish a net-zero decarbonisation target anchored on science-based pathways for palm oil in November 2023. This pioneering move addresses emissions from a productive and affordable crop that contributes significantly to…
Asia Pacific
Commonwealth Bank sole coordinator and financier on AUD 51 million loan for green cement
In September 2023, the Commonwealth Bank of Australia (CBA) acted as sole coordinator and financier for an AUD 51 million Green Loan to advance a Green Cement Transformation Project (GCTP) from Hallett…
Asia Pacific
Mizuho supports early-stage technology for reducing emissions from heavy industry
In March 2023, Mizuho Bank announced a USD 5 million equity investment in MCi Carbon, an Australian clean technology company engaged in decarbonising global industries through Carbon dioxide Capture and…
Europe
Morgan Stanley leads EUR 1.5 billion equity capital raise for green steel producer
In September this year, H2 Green Steel announced that it had secured EUR 1.5 billion (USD 1.6 billion) in equity financing to finance Europe’s first green steel plant. Since launch in 2021, H2 Green Steel has raised more than…
Asia Pacific
Standard Chartered provides USD 25 million to Asian steel producer for procurement of scrap steel
In 2023, Standard Chartered provided a USD 25 million trade finance facility to a prominent Asian steel company to support scrap steel uptake in its electric arc furnace (EAF) production facilities. The steel producer has a…
Europe
BNP Paribas partnership on methane emissions data supports engagement with the oil and gas industry
In March 2023, BNP Paribas announced a new partnership with Kayrros, an environmental intelligence company, that is enhancing its engagement with oil and gas companies on methane emissions. Kayrros uses…
North America
Deutsche Bank arranges USD 670 million for battery energy storage in Texas
As lead arranger and joint bookrunner for three project financings from December 2022 to May 2023, Deutsche Bank raised USD 670 million for a loan facility for Plus Power to construct three fully merchant, utility-scale, battery energy storage projects in Texas totalling…
Asia Pacific
First Abu Dhabi Bank plays key role in financing of Central Asia’s largest renewable project
In 2022, First Abu Dhabi Bank (FAB) played a leading role in financing the 500-megawatt Zarafshan wind project, the first wind power project in Uzbekistan and the largest renewable project in Central Asia to date (as of…
Africa & Middle East
First Abu Dhabi Bank provides financing for the world’s largest single-site solar project
In August 2023, First Abu Dhabi Bank (FAB) helped one of the world’s largest solar photovoltaic projects reach financial close. FAB participated in a USD 1.18 billion, US-dollar denominated commercial facility from a…
Asia Pacific
In March 2024, Mizuho Bank, Ltd. announced a USD 5 million equity investment in Ideation3X Pte. Ltd. (i3X), a Singapore-based venture company pioneering circular economy approaches to waste management in India…
Asia Pacific
Societe Generale acted as mandated lead arranger and hedge provider for a USD 1.2 billion green loan for ReNew Power, one of India’s largest renewable energy developers. ReNew will use the proceeds from the loan…
Asia Pacific
Standard Chartered co-finances Indonesia’s energy transition
In 2021, Standard Chartered helped finance a 145-megawatt floating solar photovoltaic power plant on the Cirata reservoir in West Java, issuing a USD 112 million 16-year project finance facility alongside two other lenders. On completion, it will be the first floating solar…
Europe
Nationwide offers innovative interest-free mortgage product to support home retrofits
In June 2023, Nationwide launched an innovative interest-free mortgage product aimed at aiding homeowners to enhance the energy efficiency of their homes. Eligible homeowners with a Nationwide…
Asia Pacific
OCBC provides its first 1.5°C sustainability-linked loan product to real estate leader
OCBC launched the OCBC 1.5°C loan product in 2023 to support corporates in their transition to net zero. It offers reduced interest rates to corporates that meet annual decarbonisation performance targets aligned with…
Latin America & Caribbean
Banorte launches Green Auto Loan for hybrid and electric vehicles
In August 2022, Banorte launched a new loan product with preferential conditions for Mexican consumers looking to purchase a new or used hybrid or electric vehicle (EV). Interest rates for the new product start at around 10% lower than the starting rate for fossil fuel…
Europe
Barclays delivers USD 300 million for electric trucking pioneer
In December 2022, Barclays delivered a USD 300 million securitisation transaction for Einride, committing USD 150 million of its own funds. Einride, a Swedish company that designs, develops, and deploys technologies for freight mobility will use this securitisation programme…
Europe
BBVA supports financing of battery gigafactory developments in France and Spain
In September this year, BBVA acted as mandated lead arranger for a EUR 801 million syndicated loan facility to Envision AESC to support a planned EUR 1.1 billion battery gigafactory project in northern France…
Europe
Lloyds Bank supports electric vehicle adoption with GBP 550 million debt securitisation facility
In December 2023, Lloyds Bank completed a GBP 550 million debt securitisation facility with Octopus Electric Vehicles to support the expansion of the company’s EV salary sacrifice programme, which began in 2021…
Topics
Africa & Middle East
Bank of America supports restructuring of Gabon’s sovereign debt for nature-positive outcomes
In August 2023, the Government of Gabon, The Nature Conservancy and Bank of America announced the completion of the first ‘Debt-for-Nature’ transaction in mainland Africa and Africa’s first ever involving private…
Asia Pacific
First Abu Dhabi Bank plays key role in financing of Central Asia’s largest renewable project
In 2022, First Abu Dhabi Bank (FAB) played a leading role in financing the 500-megawatt Zarafshan wind project, the first wind power project in Uzbekistan and the largest renewable project in Central Asia to date (as of…
Europe
In addition to lending, Barclays’ model considers debt and equity financing arranged in the capital markets sourced from Dealogic as in scope. This is a key element of Barclays’ approach and ensures it is properly accounting for the breadth of support it provides its corporate clients through its capital markets franchise…
Europe
The impact of capital market activities is now reflected in HSBC’s combined financed emissions targets for the oil and gas, and power and utilities sectors. Its facilitated emissions, included in its combined metrics, are weighted at 33%, in accordance with the PCAF Standard. This approach dampens volatility, apportions…
North America
JPMorgan Chase: Capital Markets
To evaluate the net-zero alignment of its global financing portfolio in each of the included sectors, JPMorgan Chase computes a portfolio-weighted average of emissions performance for all its clients in the sector portfolio. Weights are determined based on its cumulative financing to each client as a share of its…
Capital Markets
Wells Fargo’s methodology endeavours to apply certain design choices universally across all sectors. For example, the decision to include both the financing it provides clients through lending activities and the financing it facilitates through debt and equity capital market activities applies to all currently covered sectors…
Europe
ING assesses corporate transition plans to inform strategic planning
In 2023, ING developed ESG.X, an online tool to collect and assess the publicly disclosed climate transition plans of its wholesale banking clients. ESG.X enables ING to refine its approach at the client level, providing insights to its front office and sustainability…
Europe
Nordea develops transition assessment tool to support client engagement
In 2023, Nordea launched a Customer Climate Transition Maturity Ladder to evaluate clients’ climate transition plans and enhance targeted client engagement efforts. The objective is to better understand how clients are adapting their business models and strategies in…
Asia Pacific
SMBC Group pioneers Transition Finance Playbook in Japan
In 2023, Sumitomo Mitsui Financial Group (SMBC Group) became the first bank in Japan to publish a Transition Finance Playbook, setting out definitions and criteria for transition finance. The Playbook, revised in May 2024, serves as a framework to identify activities contributing…
Latin America & Caribbean
Banorte launches Green Auto Loan for hybrid and electric vehicles
In August 2022, Banorte launched a new loan product with preferential conditions for Mexican consumers looking to purchase a new or used hybrid or electric vehicle (EV). Interest rates for the new product start at around 10% lower than the starting rate for fossil fuel…
Europe
Nationwide offers innovative interest-free mortgage product to support home retrofits
In June 2023, Nationwide launched an innovative interest-free mortgage product aimed at aiding homeowners to enhance the energy efficiency of their homes. Eligible homeowners with a Nationwide…
Europe
BNP Paribas partnership on methane emissions data supports engagement with the oil and gas industry
In March 2023, BNP Paribas announced a new partnership with Kayrros, an environmental intelligence company, that is enhancing its engagement with oil and gas companies on methane emissions. Kayrros uses…
Europe
Societe Generale’s sectoral engagement supports client engagement and financing
Societe Generale plays a leading role in a number of initiatives that support sectoral net-zero target setting for banks. Alongside leading industry and climate organisations and other major lenders, it participates in expert organisations such as the Poseidon Principles…
Europe
Santander UK calls for tax relief and financial support to speed retrofit of homes
In April 2024, Santander UK launched Tomorrow’s Homes, a report looking at how policymakers can address the barriers preventing consumers from decarbonising their homes. It was launched in the…
Africa & Middle East
First Abu Dhabi Bank: Transition Finance
“First Abu Dhabi Bank (“FAB”)’s approach to Transition Financing is aligned with our longterm net-zero commitments to position lending and investment portfolios with net-zero emissions by 2050. For projects and activities to have a ‘transition’ label applied, the net proceeds of the transaction should be used to fund or…“
Europe
ING assesses corporate transition plans to inform strategic planning
In 2023, ING developed ESG.X, an online tool to collect and assess the publicly disclosed climate transition plans of its wholesale banking clients. ESG.X enables ING to refine its approach at the client level, providing insights to its front office and sustainability…
Europe
Intesa Sanpaolo: Transition Finance
“The Group, as a large financial player, has a key role in orienting capital towards a sustainable economy both in the short, medium and long term by addressing, amongst others, the environmental impacts that might derive from its business. In line with the definition of the NZBA Guidance that identifies Transition Finance as…”
Europe
La Banque Postale: Transition Finance
“La Banque Postale (“LBP”) is committed to support all of its customers in the ecological transition. In 2021, LBP set up a strategic plan—Horizon 2030—to make its banking/insurance business model evolve towards a just transition. A new central purpose was defined: “Because it was born with a civic vocation, La Banque Postale is…”“
Europe
Nordea develops transition assessment tool to support client engagement
In 2023, Nordea launched a Customer Climate Transition Maturity Ladder to evaluate clients’ climate transition plans and enhance targeted client engagement efforts. The objective is to better understand how clients are adapting their business models and strategies in…
Asia Pacific
SMBC Group pioneers Transition Finance Playbook in Japan
In 2023, Sumitomo Mitsui Financial Group (SMBC Group) became the first bank in Japan to publish a Transition Finance Playbook, setting out definitions and criteria for transition finance. The Playbook, revised in May 2024, serves as a framework to identify activities contributing…
Asia Pacific
“We define transition finance as financial services provided to clients aiming to support them in aligning their business and/or operations with pathways in line with the objectives of the Paris Agreement. SMBC recognizes that transition pathways to net zero should be tailored to our clients’ sector and operating…“
Europe
“Transition Finance is not defined as concept in itself, but rather incorporated under Swedbank’s existing policies, such as Swedbank’s Position Statement on Climate Change. Point 5.2. of our position statement describes how the bank is supporting customers in their sustainability transition. Swedbank advocates that...”
Disclaimer: NZBA shares case studies to promote member banks’ awareness of new approaches, tools, products, services, and transactions related to financing the transition to net zero. Featuring a case study naming a particular bank does not represent an endorsement of all actions from that bank.